Ontario – How Bad Is It?

I dare you to read the following article and not get mad.

https://medium.com/@MikePMoffatt/one-dads-experience-raising-two-wonderful-children-on-the-spectrum-c92babddcc96

This article was written about an upper middle class family. Imagine a single parent household with two or more kids on the autism spectrum.

File A Tax Return For Your Teenager

Your teenager earns nothing so logically you do not need to file a tax return. Right? Not so fast.

We discussed in previous posts why the Registered Disability Savings Plan (RDSP) is the best way to save for your child’s future. The key element to the plan is the government grants and bonds (free money!) which is added to the account. The amount added is dependent on the family income.

If the beneficiary of the RDSP is over the age of 18, the “family net income” used to calculate the government grants/bonds is that of the beneficiary and his/her spouse. The income that will determine the grant and bond is based on the income tax return from the second preceding year. (Example: Contribution made in 2019 – net income based on the 2017 tax year.)

In other words, to ensure your child receives the maximum entitled grant and bond, file a tax return when he/she turns 17 (even though the income may be low or even non-existent) so that the grant and bond will be based on his/her low income status.

My 2018 RDSP Report Card

Last year, my son’s Registered Disability Savings Plan (RDSP) had a rate of return of -2.2%.

Is that bad?

No, not really. In fact it’s in line with the industry benchmark. My portfolio is based on the Canadian Couch Potato TD e-Series model portfolio . Last year, the model portfolio returned -2.1%.

It’s important to look at the long term picture. We opened the RDSP in 2013. The rate of return from then to the end of 2018 is 5.5%.

And we care because……?

The point is that anyone can manage RDSP investments without paying for a financial advisor or having any investment knowledge. All you have to do is setup a low cost portfolio (such as the one linked above), add money every year, let the government add the grants and bonds and in the long run, you will be well ahead of those who pay too much for financial advice.

10 Years On

Ten years ago, I created a simple website to share my experience with other parents.  I had one aim; show you how the heck to pay for autism therapy without sounding like a bureaucrat.

Nobody else wants to make this easy for you.  We have governments, school districts and bureaucrats who continually create more paperwork and barriers for you, the parent on the front line.

No my child doesn't look

What has changed?

We now have a website!!!  The AFU now has an online portal.  Yippee!

What hasn’t changed?

The money.  We had one minor increase in BC autism funding in 2010. Meanwhile the government is content to ignore inflation and minimum wage increases each year, leaving our children with a smaller piece of the pie. The good people at AutismBC did some research and found the $6,000 funding from 2002 would now need to be $8,017 to address inflation.  The $20,000 funding from 2002 needs to be $29,400 (rather than the current $22,000) to keep pace with inflation.

It doesn’t seem to matter which party is in power in Victoria.  They feel our pain and show their outrage while in opposition and then do nothing when they are in power.

Has anything good happened?

The heartless Harper government gave us the Registered Disability Savings Plan (RDSP) which is seriously the best thing that has ever happened for your child’s financial future. If you don’t have one, please check it out at the earliest possible opportunity. If you don’t have anything in your bank account, don’t worry as the government wants to give you free money.

Meanwhile, the caring Trudeau government is sitting on a policy resolution passed two years ago by their own party members to include science based treatment under Medicare. The resolution can be read here.  Please contact your Federal Member of Parliament and ask why this resolution is being ignored.

What is happening at ASDfunding.com?

The site has gone through 2 major redesigns, an online comment section has been added and the site is now friendly for handheld devices. Meanwhile I continue to receive many emails from parents telling me about their experiences.  I can’t begin to tell you how much this is appreciated as I use all the information to refine the website and keep it relevant for parents new to the world of autism.

Thank you for your continued support.  May the next ten years show more progress than the past decade.

Milburn

Leisure Access Program

The Leisure Access Program (LAP) has been around in various forms for a while now.  It is designed to allow low income families to access recreation programs at a reduced cost. The program is administered by your local city government and the rules and application procedures vary from district to district.

The City of Vancouver Leisure Access Program has taken a step forward by now allowing the entire family with a disabled child (up to the age of 17) to qualify for the LAP regardless of income. Hopefully other municipalities will follow Vancouver’s lead and open their programs to children with disabilities.

With summer quickly approaching, now would be a great time to contact your local recreation department and find out what is available in your area.

If you know of other districts that allow access to this program to kids with disabilities, could you please let us know in the comment section.

Autism Funding In BC Has A New Look

ASD Funding has undergone it’s third major renovation. The look is fresh but the primary difference is the usability on tablets and phones. I’ve also gone through each page and updated the information and links that have changed over the past year. I sincerely hope my friends at the Autism Support Network don’t change their name again!


I hope you  enjoy the  new look. Please let me know if see anything out of place.

Notice of Determination on Disability Tax Credit

About three weeks ago we mailed in (via certified mail, so we got a tracking ID for the envelope we sent to the CRA) our re-application for the disability tax credit (DTC) for my son. We were not really sure how long it was going to take, however, yesterday we received the response about our…

Source: Notice of Determination on Disability Tax Credit